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On December 1, 2009, the Ministry of Justice announced amendments to the Commercial Code setting forth proposed legislation on poison pills. A poison pill is a defensive tactic used by companies to protect management rights in the event of a hostile takeover. It typically works by granting existing shareholders the right to increase their holdings by purchasing newly issued securities at a below-market price. Despite repeated requests from Korean conglomerates to allow poison pills as a management rights protection device, the introduction of poison pill legislation had been delayed due to conflicting views held among different government circles. The government authorities have, however, reached a consensus on the issue, culminating in the announcement of pending legislation by the Ministry of Justice.
– Kim & Chang
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KUKA AG has reached an agreement with its lending banks on extending the debt financing within the scope of KUKA's restructuring.
– Hengeler Mueller
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On March 8, 2010, The Bank of New York Mellon announced that it has agreed to acquire BHF Asset Servicing GmbH (BAS) from BHF-BANK Aktiengesellschaft and Sal. Oppenheim jr. & Cie. S.C.A. for EUR 253 million, subject to regulatory approvals.
– Hengeler Mueller
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– Kim & Chang
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Kim & Chang has a growing list of honors for its representation of clients across the globe, as well as for excellence in the legal profession.
Kim & Chang’s recent honors recognize many of its 700 professionals and practice groups.
– Kim & Chang
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Hengeler Mueller has advised Landesbank Berlin AG (LBB) on the amendment to the act on the LBS Norddeutsche Landesbausparkasse Berlin-Hannover ("LBS-Nord-Gesetz"), a regional public building society.
– Hengeler Mueller
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The "Highstreet" entities, owners of a portfolio of about 90 department stores let to insolvent German retailer Karstadt, have successfully restructured their financial debt obligations.
– Hengeler Mueller
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– Kim & Chang
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KF Fastigheter has acquired parts of the trade area Mobilia in Lund, and will together with Arne Paulssons Byggnads AB develop the area, including i.a. a Coop supermarket. KF Fastigheter has in connection herewith sold a larger property in central Lund to Paulssons. Mannheimer Swartling advised KF Fastigheter.
– Mannheimer Swartling
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Mannheimer Swartling has advised the owners in the sale of Kaul GmbH and UK-affiliate, Capol UK Ltd., to The Riverside Company.
– Mannheimer Swartling